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flag Thailand Thailand: Operating a Business

In this page: Setting Up a Company | The Active Population in Figures | Working Conditions | Cost of Labor | Social Partners

 

Setting Up a Company

Public Limited Company.
Number of partners: Minimum 15 shareholders.
Capital (max/min): No minimum capital requierement.
Shareholders and liability: Liability is limited to the amount contributed.
Private Limited Company.
Number of partners: Minimum 3 partners.
Capital (max/min): Minimum capital: THB 15
Shareholders and liability: Liability is limited to the amount contributed.
Unregistered ordinary partnership.
Number of partners: Minimum 2 partners.
Capital (max/min): No minimum capital.
Shareholders and liability: Partners' liability is joint and several.
Registered ordinary partnership
Number of partners: Minimum 2 partners.
Capital (max/min): No minimum capital.
Shareholders and liability: Liability is limited to the amount contributed for at least one partner and unlimited for the others.
Limited partnership
Number of partners: No minimum
Capital (max/min): No minimum capital.
Shareholders and liability: Liability is limited to the amount contributed for at least one partner and unlimited for the others.
The Competent Organization
Department of Business Development
 
Setting Up a Company Thailand East Asia & Pacific
Procedures (number) 4.0 7.0
Time (days) 29.0 36.0

Source: Doing Business.

 
Business Setup Procedures
Consult Doing Business Website, to know about procedures to start a Business in Thailand.
Thailand Company Registration
Department of Business Development

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The Active Population in Figures

201120122013
Labor force 38,900,00039,770,00039,380,000

Source: CIA - The world factbook

 
200920102011
Total activity rate -72.90%71.70%
Men activity rate 80.70%80.20%80.00%
Women activity rate 65.50%63.80%63.80%

Source: UN - United Nations

 
Employed Persons, by Occupation (% of Total Labor Force) 2008
Agriculture, Hunting and Forestry 41.3%
Manufacturing 13.8%
Hotels and Restaurants 6.2%
Construction 5.3%
Education 2.9%
Transport and Storage 2.9%
Health and Social Work 1.9%
Real Estate, Renting and Business Activities 1.9%
Households with Employed Persons 0.5%
Electricity, Gas and Water Supply 0.3%
Mining and Quarrying 0.1%

Source: International Labor Organization (ILO)

 

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Working Conditions

Legal Weekly Duration
48 hours
Retirement Age
There is no legal age of retirement except for civil servants who can retire at 60.
Working Contracts
Employment contracts are regulated by Law. Individual negotiations and collective agreements complement it.
Labor Laws
Consult Doing Business Website, to obtain a summary of the labor regulations that apply to local entreprises.

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Cost of Labor

Minimum Wage
THB 5,590 per month (source: ILO, 2011).
Average Wage
Gross average monthly wage of men: THB 10,093 (source: ILO, 2011);
Gross average monthly wage of women: THB 9,740 (source: ILO, 2011).
Social contributions
Social Security Contributions Paid By Employers: 2 %.
Social Security Contributions Paid By Employees: 2 %.

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Social Partners

Social Dialogue and Involvement of Social Partners
N/A.
Unions
THAI LABOR Web site.
THAI LABOR Campaigns.
THAI LABOR Portal.
Unionization Rate
For information on influences and percentage of Thai in Unions please consult the Labor Organization in Thailand - Jstor Web site.
Labor Regulation Bodies
Department of employment

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Last Updates: December 2014